Water Intelligence (WATR) Q4 2024 TU earnings summary

Trading and financial performance

• Revenue grew 10% to $83.3 million, with adjusted EBITDA up 12% to $15.0 million and a strong year-end cash position of $12.1 million.

• US corporate locations saw 11% growth, while international corporate locations increased 35%.

• Adjusted EBITDA margins remained at 18%, and statutory EBITDA margins improved to 16%.

• Net total debt to adjusted EBITDA ratio stands at 1.48, supporting further capital allocation.

Strategic acquisitions and partnerships

• Acquired Effective Plumbing in Connecticut and an ALD franchise in Georgia/South Carolina, both expected to be accretive in 2025.

• StreamLabs partnership enables a new preventive maintenance business line, leveraging ALD’s insurance channels and national reach.

• StreamLabs products will be resold and installed by ALD, with aftercare programs for customers.

• Additional national insurance contracts signed, now working with 20 of the largest US insurers.

Strategic plan and capital allocation

• Updated plan focuses on organic growth, technology-driven new business lines, accretive acquisitions, and potential share repurchases.

• Exploring a US listing to attract American investors and capitalize on US market operations.

• Working capital lines available to expand the StreamLabs partnership and support growth.